I came across a pretty disturbing study that uncovered the fact that the richest 85 people in the world own as much wealth as the bottom 50% of the world population. Thats’s right, 85 people own as much as $3.5 billion people!

People hate to talk about wealth inequality for fear of being accused of hating capitalism. I, on the other hand, feel as though it must be discussed because I believe such a great disparity threatens our future security.

After all, when people are hungry, their politeness goes out of the window.

I do believe that people that want to build wealth can do so if they understand how to play the game. Here is my simple framework on how to start building wealth in 2014 in the form of my “4 Ps.”

The 4 Ps of Financial Prosperity

Potential – I frequently say “If you focus on living up to your potential, you’ll never have to worry about living within your means.” Get intense about being the best at your craft, and you’ll have enough resources where you won’t be worrying about whether you can afford latte today or not.

Products - The wealthiest people have something to sell. You may beed to start selling a service (i.e .bookkeeping, grass cutting, etc), but eventually you want to sell products that don’t require your ongoing time (i.e. books, courses, packaged goods, etc.)

People - If you’re trading your time for money, you soon realize that there are only so many hours in the day. You need to have people working for you in order to have a real, scalable business

Property – Wealthy people own assets that they generate income from. These assets could be in the form of stocks, bonds, annuities, real estate, etc.

NOTE: I am participating in a compensated campaign to promote Pittsburgh Public Schools We Promise program. I am a strong supporter of mentoring programs, therefore all opinions remain my own. #IAmWePromise #PPSMentorsMatter

You Should Be a Mentor

Are you a talented, experienced professional with many life lessons learned that could be of benefit to others? If you read my blog, my assumption is that you are.

As such, I’d like to make a strong suggestion that you should be a mentor. Especially if you are in the Pittsburgh area.

There are a number of African American male students in the Pittsburgh Public Schools that could use advice from someone life you!

Not quite convinced? Check out this week’s special Money#MentorMonday video for the top 3 reasons that you should become a mentor.

Remember All of Those Mistakes YOU Made?

When I talk with clients about financial mistakes they’ve made in their lives, I hear one statement over and over again:

[quote style="boxed"]If only I knew then what I know now”[/quote]

Here’s your opportunity to make sure that other young people don’t have to utter that statement.

The Media Isn’t Going To Do It

Have you watched TV lately? Our young men need to see more people like you in the flesh, because according to the media, you don’t exist.

Everyone Can Use a Cheerleader

When I was very young, my parents and my teachers made me feel like I was smart. I’m not sure if they were lying to me or not, but I believed it. They gave me confidence and a sense that great things were expected of me. Those feelings drive me to this day.

Spend some time mentoring a few young men and you can inspire them to do things they’ve never dreamed of.

Interested? Here’s the next step:

If you’ve ready to share your knowledge, expertise and encouragement with young African American males with great potential, please take a look at the Pittsburgh Public Schools’ We Promise Program, and initiative designed to ensure that these young men become eligible for the Pittsburgh Promise.

Eligibility for the Pittsburgh Promise means that these young men can obtain up to $40,000 to fund their college education. As you can see, there’s a lot at stake.

Have You Learned Your Lesson?

There were a number of significant events that impacted our wallets in 2013. Here are some of the lessons that we take with us into the new year.

Diversify Your Income – The bankruptcy filing by the City of Detroit shows how dangerous it can be to rely on one employer for your entire financial future. Don’t put all of your retirement eggs in one basket.

Get Comfortable With Investing – All of the major stock market indices are up more than 25% this year. Now more than ever, you are responsible for your own retirement. You must learn how to manage and grow your assets.

Commit to Lifelong Learning – You must continuously reinvent yourself to keep pace with technology and the changing economy. As Blockbuster and Blackberry if they wished they had done the same.

Take Your Health Seriously – The Obamacare rollout, and its problems, highlight just how big of a deal health care is. The thing is, 75% of healthcare expenditures are largely preventable. Take care of your health and you will lower your costs and increase your earning potential.

You Are Not Invincible – Unfortunate events can happen at any time. Make sure that your life insurance and your important documents are in order.

Your health might not be the first thing you think about when you decide to improve your finances, but trust me,you should. 60% of personal bankruptcies in the U.S. can be attributed to health problems i.e. huge medical bills or job loss due to illness.

The journey towards a healthier lifestyle starts in the kitchen. Eat This, Not That, will help you swap unhealthy foods for more nourishing ones that will still satisfy your cravings.

You can’t cut everything out of your diet, but you can make better choices.

Sure, there’s been a lot of talk about important a book this might be for women who are trying to find their way to the top of their industry. However, I believe that many of the principles in the book apply to men as well.

Much of the book Lean In is about channeling your ambition and leveraging your network and other tools to get to the place that you want to be in life. That certainly isn’t gender specific advice.

Plus, since it’s been confirmed that women are now the primary breadwinner in 40% of American households, men would do well to read this book in order to be good, supportive partner to their wives. This book helps put women’s unique challenges into focus, and offers ample advice on how to forge past them.

We’ve already talked about the #1 cause of bankruptcy…health issues. Do you know what #4 is? Divorce.

Yes, 50% of marriages end in divorce, and there is an ample amount of attorneys waiting to siphon off your marital assets while you two argue over who gets to keep fluffy. Divorce can wreak havoc on a financial plan.

Enter The 5 Love Languages. If you’ve been having trouble communicating with your mate, this book might be a godsend. Not everyone expresses their affection in the same way, and this book will help you translate the love language your mate speaks.

Because it’s much better to get on the same page voluntarily, than be forced to get on the same page…as in your signatures on the divorce papers.